Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    108 Lake Point Ct Cape Charles, VA 23310

    Sponsored
    For Sale
    $99,000

    Land - CAPE CHARLES, VA

    Lot size:
    0.18 Acres
    Days on Market:
    306
    Last Refresh:
    Jan 23 at 2:06 am

    Property Features for 108 Lake Point Ct

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Exterior features
    N/A
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Expense value
    2076
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Daryl Ann Mitros

    Weichert, Realtors Mason-Davis (757) 787-1010 [email protected]

    Listing agent Daryl Ann Mitros (757) 787-1010

    Listing date Mar 24, 2025

    MLS# 64027 Listing URL

    Copyright © 2026 Eastern Shore Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Land Near Community Beach

    This 0.18-acre lot is situated in close proximity to the community beach and local restaurants, with convenient access to shops, galleries, and the local theater via a short golf cart ride into town. The property includes access to community amenities such as a pool, a restaurant, and tennis courts. Located in Cape Charles, Virginia, it offers convenient access to the Chesapeake Bay Bridge Tunnel for easy travel to Virginia Beach. Additional options include signing up for a golf membership or a workout center membership. The property is intended for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Wholesale Shop Hotel & Motel Gym & Fitness Travel Agency Parking Facility

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cape Charles
    County
    Northampton
    State
    Virginia
    Longitude
    -76.0029
    Latitude
    37.2882

    Nearby Similar for Sale

    • $379,900
      1,634 SF

      Renovated Coastal Home Near Downtown

      Renovated 3-bedroom home near downtown Cape Charles, Virginia.
      23345 Fairview Rd, Cape Charles, VA 23310
      View Details
    • $359,000
      1,265 SF

      Historic Bank Building For Sale

      Historic bank building with unique architectural details, suitable for various uses.
      4322 Capeville Dr, Cape Charles, VA 23313
      View Details
    • $625,000
      Pending

      Highway Frontage Commercial Opportunity

      Versatile commercial property with highway frontage near Cape Charles, VA.
      23120 Lankford Hwy, Cape Charles, VA 23310
      View Details
    • $879,900
      1,836 SF

      New Construction Home in Bay Creek

      New 3BR home with garage near beach and amenities.
      411 Captain Orris Browne, Cape Charles, VA 23310
      View Details
    • New
      $290,000
      3,150 SF

      Restaurant-Ready Retail Space

      Retail space suitable for restaurant conversion near Cape Charles.
      21229 S Bayside Rd, Cape Charles, VA 23310
      View Details
    • $289,000
      655 SF

      Commercial Property in Cape Charles

      Commercial property in the heart of Cape Charles, Virginia.
      300 #A Mason Ave, Cape Charles, VA 23310
      View Details
    • $325,000
      655 SF

      Prime Retail Space in Cape Charles

      Excellent visibility in the heart of Cape Charles' commercial district.
      300D Mason Ave, Cape Charles, VA 23310
      View Details
    • $589,000
      668 SF

      Iconic Commercial Corner Parcel

      Prime commercial property in Cape Charles with historic building.
      3255 Stone Rd, Cape Charles, VA 23310
      View Details
    • $280,000
      2,352 SF

      Cheriton Commercial Building For Sale

      Commercial building in Cheriton, currently rented to retail businesses.
      21230 S Bayside Rd, Cape Charles, VA 23310
      View Details
    • $2,500,000
      8,196 SF

      Established Distillery in Boutique District

      Custom-built distillery with a 10-year NNN lease.
      225 Mason Ave, Cape Charles, VA 23310
      View Details
    • $1,010,000

      Specialty Property For Sale

      Specialty property available for purchase.
      4 Martz Ct, Cape Charles, VA 23310
      View Details

    FAQs

    What type of property is this?
    Land - Land with community amenities, close to beach and restaurants.
    Where is this land located?
    The property is located at 108 Lake Point Ct Cape Charles, VA.
    What is the asking price?
    The asking price for this property is $99,000.
    What are key features of this property?
    This property features: - Close to community beach and local restaurants.; - Access to community amenities: pool, restaurant, and tennis courts.; - Easy access to the Chesapeake Bay Bridge Tunnel for travel to Virginia Beach.
    (757) 787-1010
    Request Owner's contact information
    108 Lake Point Ct Cape Charles, VA 23310
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    108 Lake Point Ct
    Cape Charles, VA 23310
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    108 Lake Point Ct Cape Charles, VA 23310
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Daryl Ann Mitros
    (757) 787-1010
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.